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CBN Orders Bank CEOs To Undergo Bi-Annual Assessment Test

By The Citizen
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The Central Bank of Nigeria (CBN) has announced plans to conduct a bi-annual test for Chief Executive Officers (CEOs) of Nigeria's deposit money banks to ensure the capacity of the chief executives.

The assessment which will be conducted by the CBN is to ascertain whether they (The CEOs) are fit to continue to hold sway as the heads of those institutions.

The exercise tagged 'Fit and Proper Persons Test' will be a key determinant whether a bank CEO's tenure is to renewed afterwards or not.

Such a decision will be depended on the level of his/her performance.

In a circular reminding all Managing Directors/ CEOs of deposit money banks and discount houses of the development, the CBN said they would be assessed based on their response to issues such as examiners report, external auditors' letters/ reports, as well as customers' complaints, among others.

Credit: channels